Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-American Eagle Outfitters’ management plans to nearly double the amount of Aerie lingerie stores it currently operates, opening 70 new units this year. Eventually the chain, which now has 39 stores, could become a $1-billion business, said CFO and EVP Joan Hilson of the Pittsburgh based retailer, speaking here at the Cowen and Co. Annual Consumer Conference.

So far this fiscal year, American Eagle Outfitters sales have roughly come in at $3 billion, so Aerie’s growth could give the company a significant boost. Right now, Aerie stores are averaging sale per sf of $400.

The company is forecasting capital expenditures of $250 million to $275 million for the year. Executives also plan to open 40 to 50 new American Eagle stores, of which there are currently just over 850 units, and undertake 50 renovations.

Hilson did not say how many new Martin + Osa stores are on tap for the year. American Eagle currently operates 19 of the stores, which target men and women between 28 and 40 years old.

Management will reveal details about a new chain, referred to as Concept 4, “shortly,” Hilson said.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.